UTIAMC
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Recent events
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Corporate Actions
China Citic Financial Asset Management Appoints Liu Zeyun and Zhang Jian as Vice Presidents
China CITIC Financial Asset Management Co., Ltd. has announced the appointment of Mr. Liu Zeyun and Mr. Zhang Jian as vice presidents. Their appointments take effect following board approval. Mr. Zhang Jian previously held roles at Bank of Communications and Industrial Bank before joining the company in 2018.
China CITIC Financial Asset Management Co., Ltd. has announced the appointment of Mr. Liu Zeyun and Mr. Zhang Jian as vice presidents. Their appointments take effect following board approval. Mr. Zhang Jian previously held roles at Bank of Communications and Industrial Bank before joining the company in 2018.
India's UTI AMC set for biggest drop in over three years after Q2 results
** India's UTI Asset Management Company UTIA.NS slumps as much as 10% to three-month low of 1,263.3 rupees; last down 6.4%
** Set for biggest daily pct drop since June 2022
** Asset manager's revenue, core profit drops q/q and y/y
** JM Financial downgrades to "reduce" from "hold", cuts PT to 1,350 rupees from 1,500 earlier
** Says UTIA continues to lose market share in SIP inflows and stock equity AUM
** Nearly 280,000 shares change hands, roughly double the 30-day avg volume
** Stock rated "buy" on avg by 17 brokerage firms; median PT at 1,416 rupees, per data compiled by LSEG
** UTIA turns negative YTD, down 4.5%
(Reporting by Vivek Kumar M)
(([email protected];))
** India's UTI Asset Management Company UTIA.NS slumps as much as 10% to three-month low of 1,263.3 rupees; last down 6.4%
** Set for biggest daily pct drop since June 2022
** Asset manager's revenue, core profit drops q/q and y/y
** JM Financial downgrades to "reduce" from "hold", cuts PT to 1,350 rupees from 1,500 earlier
** Says UTIA continues to lose market share in SIP inflows and stock equity AUM
** Nearly 280,000 shares change hands, roughly double the 30-day avg volume
** Stock rated "buy" on avg by 17 brokerage firms; median PT at 1,416 rupees, per data compiled by LSEG
** UTIA turns negative YTD, down 4.5%
(Reporting by Vivek Kumar M)
(([email protected];))
India's HDFC Asset Management Company rose 3% on quarterly profit jump
** Shares of HDFC Asset Management Company HDFA.NS rose as much as 3.8% to 5,809 rupees, their highest level in nearly three weeks
** Closed 3% higher
** Co reports 25% y/y rise in Q2 consol net profit, rev rises 16%
** Approves bonus issue in the ratio of 1:1
** More than 1.2 mln shares trades so far, 4x their 30-day avg
** YTD, HDFA up 37%; peers Nippon Life India Asset Management NIPF.NS gain 24% and UTI Asset Management UTIA.NS advance 4%
(Reporting by Nishit Navin in Bengaluru)
** Shares of HDFC Asset Management Company HDFA.NS rose as much as 3.8% to 5,809 rupees, their highest level in nearly three weeks
** Closed 3% higher
** Co reports 25% y/y rise in Q2 consol net profit, rev rises 16%
** Approves bonus issue in the ratio of 1:1
** More than 1.2 mln shares trades so far, 4x their 30-day avg
** YTD, HDFA up 37%; peers Nippon Life India Asset Management NIPF.NS gain 24% and UTI Asset Management UTIA.NS advance 4%
(Reporting by Nishit Navin in Bengaluru)
India's Canara Robeco's IPO fully subscribed on final day, led by institutional buyers
Updates subscription levels in paragraph 3, adds details paragraph 4 onwards
Oct 13 (Reuters) - Indian asset manager Canara Robeco's CANE.NS nearly $150 million initial public offering (IPO) was fully subscribed on Monday, the final day of its three-day bidding process, led strong institutional interest after muted demand earlier.
The Mumbai-based firm's IPO drew bids worth 21.23 billion rupees ($239.7 million), 2.3 times the 34.9 million shares on offer, with demand led by qualified institutional buyers (QIB) who bid for four times their allotted portion, exchange data showed. Retail investors, who had the largest share reserved for them, subscribed 1.37 times.
The QIB portion excludes shares that were allocated to anchor investors such as SBI Mutual Fund and ICICI Prudential Mutual Fund ahead of the IPO.
The IPO values Canara Robeco at up to 53.05 billion rupees at the top of its 253–266 rupee price band, compared with market leader HDFC Asset Management Company's 1.18 trillion-rupee valuation, per Reuters' calculations.
The company, a joint venture between India's Canara Bank CNBK.NS and the European arm of Japan's ORIX 8591.T, is the smallest by revenue among its listed peers, including HDFC AMC HDFA.NS, Nippon Life India AMC NIPF.NS and UTI AMC UTIA.NS.
Canara Bank will sell a 13% stake, while ORIX will offload a 24.5% holding. The asset manager will not offer any new shares in the IPO, with the proceeds going to the two shareholders.
Its shares are expected to list on October 16.
The offering comes amid a record year for Indian IPOs, with investors gearing up for billion-dollar listings including LG Electronics India LGEL.NS on Tuesday.
Canara Robeco Asset Management caters to investors through a portfolio largely focussed on equities, with a predominantly retail investor base. Other asset managers such as ICICI Prudential AMC are also eyeing listings in India this year.
SBI Capital Markets, Axis Capital, and JM Financial are the lead managers for Canara Robeco's IPO.
($1 = 88.575 Indian rupees)
(Reporting by Yagnoseni Das, Vivek Kumar M and in Bengaluru; Editing by Harikrishnan Nair and Sonia Cheema)
(([email protected];))
Updates subscription levels in paragraph 3, adds details paragraph 4 onwards
Oct 13 (Reuters) - Indian asset manager Canara Robeco's CANE.NS nearly $150 million initial public offering (IPO) was fully subscribed on Monday, the final day of its three-day bidding process, led strong institutional interest after muted demand earlier.
The Mumbai-based firm's IPO drew bids worth 21.23 billion rupees ($239.7 million), 2.3 times the 34.9 million shares on offer, with demand led by qualified institutional buyers (QIB) who bid for four times their allotted portion, exchange data showed. Retail investors, who had the largest share reserved for them, subscribed 1.37 times.
The QIB portion excludes shares that were allocated to anchor investors such as SBI Mutual Fund and ICICI Prudential Mutual Fund ahead of the IPO.
The IPO values Canara Robeco at up to 53.05 billion rupees at the top of its 253–266 rupee price band, compared with market leader HDFC Asset Management Company's 1.18 trillion-rupee valuation, per Reuters' calculations.
The company, a joint venture between India's Canara Bank CNBK.NS and the European arm of Japan's ORIX 8591.T, is the smallest by revenue among its listed peers, including HDFC AMC HDFA.NS, Nippon Life India AMC NIPF.NS and UTI AMC UTIA.NS.
Canara Bank will sell a 13% stake, while ORIX will offload a 24.5% holding. The asset manager will not offer any new shares in the IPO, with the proceeds going to the two shareholders.
Its shares are expected to list on October 16.
The offering comes amid a record year for Indian IPOs, with investors gearing up for billion-dollar listings including LG Electronics India LGEL.NS on Tuesday.
Canara Robeco Asset Management caters to investors through a portfolio largely focussed on equities, with a predominantly retail investor base. Other asset managers such as ICICI Prudential AMC are also eyeing listings in India this year.
SBI Capital Markets, Axis Capital, and JM Financial are the lead managers for Canara Robeco's IPO.
($1 = 88.575 Indian rupees)
(Reporting by Yagnoseni Das, Vivek Kumar M and in Bengaluru; Editing by Harikrishnan Nair and Sonia Cheema)
(([email protected];))
India's UTI Asset Management halts new investments in silver ETF
Oct 11 - UTI Asset Management Company UTIA.NS has temporarily suspended fresh lump-sum and switch-in investments into the UTI Silver ETF Fund of Fund, effective October 13, 2025, the company said in a statement on Saturday.
The asset manager said this was due to prevailing market conditions and a shortage of physical silver in the domestic market as the metal trades at a premium relative to international prices.
"Therefore, the premium in domestic silver prices directly impacts the valuation of the scheme."
UTI is the second fund manager to curb new investments into silver-based funds this week. On Thursday, Kotak Mahindra Asset Management Company also temporarily suspended new investments into a Silver ETF Fund of Fund.
Kotak said it would lift the restrictions within the next couple of weeks as supply improves after the Hindu festival of Diwali.
Spot silver hit a record high of $51.22 per ounce on Thursday, surpassing the $51 per ounce level for the first time.
In India, the world's biggest silver consumer, silver's premium over official domestic prices jumped as much as 10% on Thursday because of strong investment demand ahead of a key festival and limited supplies, bullion dealers said.
(Writing by Sai Ishwarbharath B in Bengaluru. Editing by Jane Merriman)
Oct 11 - UTI Asset Management Company UTIA.NS has temporarily suspended fresh lump-sum and switch-in investments into the UTI Silver ETF Fund of Fund, effective October 13, 2025, the company said in a statement on Saturday.
The asset manager said this was due to prevailing market conditions and a shortage of physical silver in the domestic market as the metal trades at a premium relative to international prices.
"Therefore, the premium in domestic silver prices directly impacts the valuation of the scheme."
UTI is the second fund manager to curb new investments into silver-based funds this week. On Thursday, Kotak Mahindra Asset Management Company also temporarily suspended new investments into a Silver ETF Fund of Fund.
Kotak said it would lift the restrictions within the next couple of weeks as supply improves after the Hindu festival of Diwali.
Spot silver hit a record high of $51.22 per ounce on Thursday, surpassing the $51 per ounce level for the first time.
In India, the world's biggest silver consumer, silver's premium over official domestic prices jumped as much as 10% on Thursday because of strong investment demand ahead of a key festival and limited supplies, bullion dealers said.
(Writing by Sai Ishwarbharath B in Bengaluru. Editing by Jane Merriman)
India's UTI Asset Management falls on Q1 profit drop
** UTI Asset Management Company UTIA.NS falls 4.5%; marks biggest intraday pct loss since May 6
** Co's Q1 profit slips 6.8% y/y as 15.7% jump in total expenses countered a 3.3% rise in revenue
** Stock set to fall for third straight day; on track to extend weekly rally into 11th straight session
** YTD, UTIA gains ~7%
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** UTI Asset Management Company UTIA.NS falls 4.5%; marks biggest intraday pct loss since May 6
** Co's Q1 profit slips 6.8% y/y as 15.7% jump in total expenses countered a 3.3% rise in revenue
** Stock set to fall for third straight day; on track to extend weekly rally into 11th straight session
** YTD, UTIA gains ~7%
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
China CITIC Financial Asset Management Co. Ltd. Conducted Extraordinary General Meeting
China CITIC Financial Asset Management Co., Ltd. held an extraordinary general meeting of shareholders on 15 July 2025. The meeting, chaired by Mr. Liu Zhengjun, approved the re-election of Mr. Liu Zhengjun as an executive Director and Mr. Xu Wei as a non-executive Director.
China CITIC Financial Asset Management Co., Ltd. held an extraordinary general meeting of shareholders on 15 July 2025. The meeting, chaired by Mr. Liu Zhengjun, approved the re-election of Mr. Liu Zhengjun as an executive Director and Mr. Xu Wei as a non-executive Director.
China CITIC Financial Asset Management Co. Ltd. Announces Appointment of Ms. Yuan Xin as Non-Executive Director
China CITIC Financial Asset Management Co., Ltd. has announced the appointment of Ms. Yuan Xin as a non-executive director, effective from July 2, 2025, for a three-year term. The Board now includes Mr. Liu Zhengjun and Mr. Li Zimin as executive directors, along with Ms. Zhao Jiangping, Mr. Xu Wei, and Mr. Tang Hongtao as non-executive directors.
China CITIC Financial Asset Management Co., Ltd. has announced the appointment of Ms. Yuan Xin as a non-executive director, effective from July 2, 2025, for a three-year term. The Board now includes Mr. Liu Zhengjun and Mr. Li Zimin as executive directors, along with Ms. Zhao Jiangping, Mr. Xu Wei, and Mr. Tang Hongtao as non-executive directors.
China CITIC Financial Asset Management Co. Ltd. Announces New Board Directors and Chairman
China CITIC Financial Asset Management Co., Ltd. has announced changes in its board of directors. Mr. Liu Zhengjun and Mr. Xu Wei have been proposed as candidates for director positions. The company confirmed that neither has held directorships in other listed companies in the past three years. A circular with details on the proposed election will be published soon.
China CITIC Financial Asset Management Co., Ltd. has announced changes in its board of directors. Mr. Liu Zhengjun and Mr. Xu Wei have been proposed as candidates for director positions. The company confirmed that neither has held directorships in other listed companies in the past three years. A circular with details on the proposed election will be published soon.
China CITIC Financial Asset Management Co. Ltd. Held Annual General Meeting
China CITIC Financial Asset Management Co., Ltd. held its annual general meeting on May 28, 2025. All proposed resolutions were approved, including the re-election of directors and the appointment of Ms. YUAN Xin as a non-executive director, subject to regulatory approval.
China CITIC Financial Asset Management Co., Ltd. held its annual general meeting on May 28, 2025. All proposed resolutions were approved, including the re-election of directors and the appointment of Ms. YUAN Xin as a non-executive director, subject to regulatory approval.
India's Canara Robeco Asset Management files for IPO
Updates with details throughout
April 25 (Reuters) - India's Canara Robeco Asset Management Company has filed for an initial public offering, draft papers showed on Friday, with its existing shareholders looking to sell stakes at a time when the IPO market is slowing.
Canara Robeco is a joint venture between India's state-owned Canara Bank CNBK.NS and Netherlands-headquartered ORIX Corporation Europe, which is a unit of Japan's ORIX Corporation 8591.T.
The firm, which manages more than 1 trillion rupees ($11.7 billion) in assets, will not issue fresh shares in the IPO, but the two owners will sell a combined 49.8 million shares.
Canara Bank will reduce its stake in the asset manager by 13% by selling 25.92 million shares via the listing. ORIX will sell 23.93 million shares.
The asset manager did not detail the size or timing of the IPO.
The listing is set to come at a time when rising global market volatility, driven by U.S. tariff flip-flops, is forcing companies to recalibrate IPO ambitions to avoid weak demand or failed listings.
India was the world's second-largest market by IPO proceeds in 2024 but listings are down close to 15% this year, data compiled by LSEG showed.
Canara Robeco competes with other major asset managers such as HDFC Asset Management Company HDFA.NS, Nippon Life India Asset Management NIPF.NS and UTI Asset Management Company UTIA.NS.
Its profit for the fiscal year ended March 2024 was 91% higher than a year ago, the draft prospectus showed, while revenue from operations was 55.4% higher.
In a country where physical assets still dominate financial savings, investments in mutual funds are on the rise, in tandem with greater financial awareness.
Mutual funds, as a portion of household financial savings, grew from 2% to around 7% between fiscal years 2021 and 2024, with investment value more than doubling to 2.4 trillion rupees, the prospectus showed, citing data from India's central bank and Crisil Intelligence.
($1 = 85.3680 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected];))
Updates with details throughout
April 25 (Reuters) - India's Canara Robeco Asset Management Company has filed for an initial public offering, draft papers showed on Friday, with its existing shareholders looking to sell stakes at a time when the IPO market is slowing.
Canara Robeco is a joint venture between India's state-owned Canara Bank CNBK.NS and Netherlands-headquartered ORIX Corporation Europe, which is a unit of Japan's ORIX Corporation 8591.T.
The firm, which manages more than 1 trillion rupees ($11.7 billion) in assets, will not issue fresh shares in the IPO, but the two owners will sell a combined 49.8 million shares.
Canara Bank will reduce its stake in the asset manager by 13% by selling 25.92 million shares via the listing. ORIX will sell 23.93 million shares.
The asset manager did not detail the size or timing of the IPO.
The listing is set to come at a time when rising global market volatility, driven by U.S. tariff flip-flops, is forcing companies to recalibrate IPO ambitions to avoid weak demand or failed listings.
India was the world's second-largest market by IPO proceeds in 2024 but listings are down close to 15% this year, data compiled by LSEG showed.
Canara Robeco competes with other major asset managers such as HDFC Asset Management Company HDFA.NS, Nippon Life India Asset Management NIPF.NS and UTI Asset Management Company UTIA.NS.
Its profit for the fiscal year ended March 2024 was 91% higher than a year ago, the draft prospectus showed, while revenue from operations was 55.4% higher.
In a country where physical assets still dominate financial savings, investments in mutual funds are on the rise, in tandem with greater financial awareness.
Mutual funds, as a portion of household financial savings, grew from 2% to around 7% between fiscal years 2021 and 2024, with investment value more than doubling to 2.4 trillion rupees, the prospectus showed, citing data from India's central bank and Crisil Intelligence.
($1 = 85.3680 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected];))
FUNDVIEW-UTI Asset Management sees sweet spot in India's 2-3 year bonds versus 10-year
By Siddhi Nayak and Dharamraj Dhutia
MUMBAI, March 7 (Reuters) - India's two- to three-year government bond yields are an attractive investment opportunity and UTI Asset Management Company is more bullish on this part of the curve versus the 10-year bond, an executive from the fund house said.
India's 10-year benchmark bond yield IN067934G=CC was at 6.68%, while the two-year and three-year bond yields were around 6.53%-6.57% on Friday.
"The sweet spot on the yield curve is somewhere in the 2-to-3-year segment. We are more bullish (on this segment) than the 10-year," said Vetri Subramaniam, chief investment officer at UTI Asset Management Company, which manages debt assets worth around 3.50 trillion rupees ($40.18 billion) as of January.
Yields on the longer duration bonds would likely have limited room to decline from this point as U.S. yields remain elevated, he added.
Bond yields fall when prices rise.
The 10-year U.S. Treasury yield US10YT=RR was at 4.26%, and the spread with the Indian counterpart is 243 basis points. The spread was at 255 bps at the start of the week.
In addition, the premium on (India's 10-year-bond yield) compared to its U.S. counterpart "is not very attractive and it does not fully compensate investors for the currency risk," Subramaniam said. "The U.S. market is sucking the oxygen out of the room for every other country."
"Our view is that the yield curve is flattening, and steepening, if any, will happen because the short-term (yields) fall due to comfortable liquidity conditions," he added.
Typically, demand for short-term bonds ramps up when liquidity conditions are comfortable as there is more money in the system, pushing down yields.
The Reserve Bank of India has infused over 4.50 trillion rupees into the banking system since mid-January through bond purchases, forex swaps and repos maturing in early-April. It will further inject around 1.87 trillion rupees through bond buying and forex swaps in next three weeks.
The fund manager expects the current central bank's rate cutting cycle to be shallow, and sees the possibility of two more cuts, with a reasonable probability in April.
($1 = 87.1100 Indian rupees)
(Reporting by Siddhi Nayak and Dharamraj Dhutia; Editing by Janane Venkatraman)
(([email protected];))
By Siddhi Nayak and Dharamraj Dhutia
MUMBAI, March 7 (Reuters) - India's two- to three-year government bond yields are an attractive investment opportunity and UTI Asset Management Company is more bullish on this part of the curve versus the 10-year bond, an executive from the fund house said.
India's 10-year benchmark bond yield IN067934G=CC was at 6.68%, while the two-year and three-year bond yields were around 6.53%-6.57% on Friday.
"The sweet spot on the yield curve is somewhere in the 2-to-3-year segment. We are more bullish (on this segment) than the 10-year," said Vetri Subramaniam, chief investment officer at UTI Asset Management Company, which manages debt assets worth around 3.50 trillion rupees ($40.18 billion) as of January.
Yields on the longer duration bonds would likely have limited room to decline from this point as U.S. yields remain elevated, he added.
Bond yields fall when prices rise.
The 10-year U.S. Treasury yield US10YT=RR was at 4.26%, and the spread with the Indian counterpart is 243 basis points. The spread was at 255 bps at the start of the week.
In addition, the premium on (India's 10-year-bond yield) compared to its U.S. counterpart "is not very attractive and it does not fully compensate investors for the currency risk," Subramaniam said. "The U.S. market is sucking the oxygen out of the room for every other country."
"Our view is that the yield curve is flattening, and steepening, if any, will happen because the short-term (yields) fall due to comfortable liquidity conditions," he added.
Typically, demand for short-term bonds ramps up when liquidity conditions are comfortable as there is more money in the system, pushing down yields.
The Reserve Bank of India has infused over 4.50 trillion rupees into the banking system since mid-January through bond purchases, forex swaps and repos maturing in early-April. It will further inject around 1.87 trillion rupees through bond buying and forex swaps in next three weeks.
The fund manager expects the current central bank's rate cutting cycle to be shallow, and sees the possibility of two more cuts, with a reasonable probability in April.
($1 = 87.1100 Indian rupees)
(Reporting by Siddhi Nayak and Dharamraj Dhutia; Editing by Janane Venkatraman)
(([email protected];))
FUNDVIEW-India's UTI AMC to add long-end federal bonds, short corporate bonds, executive says
By Dharamraj Dhutia
MUMBAI, Jan 31 (Reuters) - India's UTI Asset Management Company plans to increase its investments in the seven- to 15-year government bond segment and three- to five-year corporate notes, following the central bank's recent liquidity infusion and anticipated rate cuts, an executive said on Friday.
"In government bonds, we are invested in the seven- to 15-year part of the bond yield curve, as this part is expected to benefit from the central bank's OMO (open market operation) purchases looking at its preference for such securities," said Anurag Mittal, head of fixed income at the asset management firm.
The fund house manages assets worth around 3.5 trillion rupees ($40.39 billion), as of December end.
In the corporate debt space, the firm remains invested in three- to five-year papers, as these yields could decline in case of interest rate cuts and liquidity infusion, Mittal said, adding the fund house is "quite comfortable" with the strategy.
The Reserve Bank of India will infuse around 1.50 trillion rupees into the banking system over three weeks through debt purchases, long-term repos and an FX swap.
On Thursday, the RBI bought 200 billion rupees of 2033 to 2037 maturity papers.
The infusion is being considered as a precursor for an interest rate cut on Feb. 7, when the RBI will announce its monetary policy decision.
Mittal expects the central bank to announce more steps to infuse liquidity and cut repo rate by 50-75 basis points this year.
"Going forward, inflation should come closer to RBI's target and growth is also slowing down. Both these factors are quite constructive for policy easing."
Mittal said, the central bank could opt for a temporary cut in banks' cash reserve ratio for the next two to three months, as a 50 bps move could release more than 1 trillion rupees.
"I think the RBI may have to do more tranches of liquidity infusion once the initial set is done. Especially around the time of advance tax outflows, we may need more longer duration variable rate repos as well as OMO purchases."
($1 = 86.6600 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)
(([email protected];))
By Dharamraj Dhutia
MUMBAI, Jan 31 (Reuters) - India's UTI Asset Management Company plans to increase its investments in the seven- to 15-year government bond segment and three- to five-year corporate notes, following the central bank's recent liquidity infusion and anticipated rate cuts, an executive said on Friday.
"In government bonds, we are invested in the seven- to 15-year part of the bond yield curve, as this part is expected to benefit from the central bank's OMO (open market operation) purchases looking at its preference for such securities," said Anurag Mittal, head of fixed income at the asset management firm.
The fund house manages assets worth around 3.5 trillion rupees ($40.39 billion), as of December end.
In the corporate debt space, the firm remains invested in three- to five-year papers, as these yields could decline in case of interest rate cuts and liquidity infusion, Mittal said, adding the fund house is "quite comfortable" with the strategy.
The Reserve Bank of India will infuse around 1.50 trillion rupees into the banking system over three weeks through debt purchases, long-term repos and an FX swap.
On Thursday, the RBI bought 200 billion rupees of 2033 to 2037 maturity papers.
The infusion is being considered as a precursor for an interest rate cut on Feb. 7, when the RBI will announce its monetary policy decision.
Mittal expects the central bank to announce more steps to infuse liquidity and cut repo rate by 50-75 basis points this year.
"Going forward, inflation should come closer to RBI's target and growth is also slowing down. Both these factors are quite constructive for policy easing."
Mittal said, the central bank could opt for a temporary cut in banks' cash reserve ratio for the next two to three months, as a 50 bps move could release more than 1 trillion rupees.
"I think the RBI may have to do more tranches of liquidity infusion once the initial set is done. Especially around the time of advance tax outflows, we may need more longer duration variable rate repos as well as OMO purchases."
($1 = 86.6600 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)
(([email protected];))
UTI Asset Management Company Dec-Quarter Consol Net Profit 1.51 Bln Rupees
Jan 28 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
DEC-QUARTER CONSOL NET PROFIT 1.51 BILLION RUPEES
DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.18 BILLION RUPEES
Source text: [ID:]
Further company coverage: UTIA.NS
(([email protected];;))
Jan 28 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
DEC-QUARTER CONSOL NET PROFIT 1.51 BILLION RUPEES
DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.18 BILLION RUPEES
Source text: [ID:]
Further company coverage: UTIA.NS
(([email protected];;))
India's UTI Asset Management gains on Q2 profit rise
** Shares of UTI Asset Management UTIA.NS rise 4.5% to 1,199 rupees
** Investment management co posted a 31% rise in Q1 consol net profit to 2.39 bln rupees ($28 mln), total rev from ops up 33% Y/Y
** Overall net flows remain positive, hybrid funds recorded decent inflows, said analysts at Centrum Broking
** Fourteen analysts covering the stock on avg have a "hold" rating; median PT is 1,232 rupees - LSEG data
** Stock up 42% so far this year
($1 = 84.0725 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
** Shares of UTI Asset Management UTIA.NS rise 4.5% to 1,199 rupees
** Investment management co posted a 31% rise in Q1 consol net profit to 2.39 bln rupees ($28 mln), total rev from ops up 33% Y/Y
** Overall net flows remain positive, hybrid funds recorded decent inflows, said analysts at Centrum Broking
** Fourteen analysts covering the stock on avg have a "hold" rating; median PT is 1,232 rupees - LSEG data
** Stock up 42% so far this year
($1 = 84.0725 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
UTI Asset Management Company Sept-Quarter Consol Net Profit 2.39 Billion Rupees
Oct 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
UTI ASSET MANAGEMENT COMPANY LTD SEPT-QUARTER CONSOL NET PROFIT 2.39 BILLION RUPEES
UTI ASSET MANAGEMENT COMPANY LTD SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.38 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: UTIA.NS
(([email protected];;))
Oct 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
UTI ASSET MANAGEMENT COMPANY LTD SEPT-QUARTER CONSOL NET PROFIT 2.39 BILLION RUPEES
UTI ASSET MANAGEMENT COMPANY LTD SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.38 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: UTIA.NS
(([email protected];;))
Nomura initiates Indian asset managers with 'buy' and 'neutral'; shares rise
** Shares of HDFC Asset Management HDFA.NS, Nippon Life India Asset Management NIPF.NS and UTI Asset Management UTIA.NS rise 4.2%, 1.7% and 2.5%
** Nomura begins coverage of HDFA and NPIF with a 'buy' and UTIA with a 'neutral' rating
** HDFA, NIPF rated "buy" on avg, UTIA "hold" - LSEG data
** India's mutual fund penetration trails global average and at 3.2% has "significant room to grow" - Nomura
** Says HDFA among most profitable AMCs and is poised to capture more market share in the future
** NIPF best-placed to benefit from rising industry flows, especially in small-/mid-cap segments, it says
** Sets PT of 5,000 rupees to HDFA, a Street-high; NIPF and UTIA get PTs of 785 rupees and 1,300 rupees - second-highest among brokerages
** NIPF leads YTD gains among the firms with ~45% rise, UTIA up ~44% and HDFA up 36%
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Shares of HDFC Asset Management HDFA.NS, Nippon Life India Asset Management NIPF.NS and UTI Asset Management UTIA.NS rise 4.2%, 1.7% and 2.5%
** Nomura begins coverage of HDFA and NPIF with a 'buy' and UTIA with a 'neutral' rating
** HDFA, NIPF rated "buy" on avg, UTIA "hold" - LSEG data
** India's mutual fund penetration trails global average and at 3.2% has "significant room to grow" - Nomura
** Says HDFA among most profitable AMCs and is poised to capture more market share in the future
** NIPF best-placed to benefit from rising industry flows, especially in small-/mid-cap segments, it says
** Sets PT of 5,000 rupees to HDFA, a Street-high; NIPF and UTIA get PTs of 785 rupees and 1,300 rupees - second-highest among brokerages
** NIPF leads YTD gains among the firms with ~45% rise, UTIA up ~44% and HDFA up 36%
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
UTI Asset Management Co June-Quarter Consol Net Profit 2.54 Billion Rupees
July 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
JUNE-QUARTER CONSOL NET PROFIT 2.54 BILLION RUPEES
JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.29 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: UTIA.NS
(([email protected];))
July 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
JUNE-QUARTER CONSOL NET PROFIT 2.54 BILLION RUPEES
JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.29 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: UTIA.NS
(([email protected];))
FUNDVIEW-India's infrastructure, premium consumer stocks a good bet, says UTI AMC's Lakshmanan
MUMBAI, June 3 (Reuters) - India's general elections will have a limited impact on the stock market, although infrastructure-related stocks will benefit from policy continuity, while strong economic growth bodes well for premium-end consumer companies, said a fund manager of UTI Asset Management Company.
Exit polls predict Prime Minister Narendra Modi will win a third term, sending the stock market to a record high on Monday. The official results are due Tuesday.
"Even if the election results are a little different from the expectations, the stock market may only move for a couple of days or weeks," said Karthikraj Lakshmanan, senior vice president and fund manager of equity at UTI Asset Management Company.
"Eventually, markets are slaves to earnings. If one looks at the trend for the last three decades, the best correlation for markets would be with the earnings trajectory," Lakshmanan said on Friday.
UTI AMC manages assets worth 18.48 trillion rupees (about $222 billion).
Since 1999, irrespective of the short-term reaction to election results, India's benchmark Nifty 50 .NSEI has advanced over the six subsequent months, data shows.
The fund manager expects the private sector to now start contributing to India's growth story.
The government's focus on manufacturing and capex has helped the investment cycle so far and now is the time for the private sector capex to pick up, said Lakshmanan.
In terms of industries, the power sector could continue to see healthy growth due to the government's investment cycle, he said.
He also expects sustained traction in real estate and other consumption-linked stocks aimed at premium segments as India's fast economic growth translates to increased purchasing power, feeding into the demand for higher-end products.
"So, we may see those premiumisation trends on the consumption side to see further traction over the next few years."
Lakshmanan expects this to play out, especially in the real estate sector where the cycles are longer.
However, he cautions that the above-average valuations in small-cap .NIFSMCP100 and mid-cap .NIFMDCP100 stocks could spark some volatility.
"This is a stock picker's market in which the returns will not just depend on economic stability but also starting valuations."
($1 = 83.1160 Indian rupees)
India's Nifty 50 gained six months from results day for last five elections https://reut.rs/3yF5Voe
(Reporting by Bharath Rajeswaran in Mumbai; Editing by Savio D'Souza)
(([email protected]; +91 9769003463;))
MUMBAI, June 3 (Reuters) - India's general elections will have a limited impact on the stock market, although infrastructure-related stocks will benefit from policy continuity, while strong economic growth bodes well for premium-end consumer companies, said a fund manager of UTI Asset Management Company.
Exit polls predict Prime Minister Narendra Modi will win a third term, sending the stock market to a record high on Monday. The official results are due Tuesday.
"Even if the election results are a little different from the expectations, the stock market may only move for a couple of days or weeks," said Karthikraj Lakshmanan, senior vice president and fund manager of equity at UTI Asset Management Company.
"Eventually, markets are slaves to earnings. If one looks at the trend for the last three decades, the best correlation for markets would be with the earnings trajectory," Lakshmanan said on Friday.
UTI AMC manages assets worth 18.48 trillion rupees (about $222 billion).
Since 1999, irrespective of the short-term reaction to election results, India's benchmark Nifty 50 .NSEI has advanced over the six subsequent months, data shows.
The fund manager expects the private sector to now start contributing to India's growth story.
The government's focus on manufacturing and capex has helped the investment cycle so far and now is the time for the private sector capex to pick up, said Lakshmanan.
In terms of industries, the power sector could continue to see healthy growth due to the government's investment cycle, he said.
He also expects sustained traction in real estate and other consumption-linked stocks aimed at premium segments as India's fast economic growth translates to increased purchasing power, feeding into the demand for higher-end products.
"So, we may see those premiumisation trends on the consumption side to see further traction over the next few years."
Lakshmanan expects this to play out, especially in the real estate sector where the cycles are longer.
However, he cautions that the above-average valuations in small-cap .NIFSMCP100 and mid-cap .NIFMDCP100 stocks could spark some volatility.
"This is a stock picker's market in which the returns will not just depend on economic stability but also starting valuations."
($1 = 83.1160 Indian rupees)
India's Nifty 50 gained six months from results day for last five elections https://reut.rs/3yF5Voe
(Reporting by Bharath Rajeswaran in Mumbai; Editing by Savio D'Souza)
(([email protected]; +91 9769003463;))
India's UTI Asset Management rises to 2-year high on Q4 profit growth
** Shares of UTI Asset Management Company UTIA.NS rise as much as 6.07% to 1,005 rupees, highest since April 1, 2022; shares last up 4.2%
** The asset management company posts consolidated net profit that nearly doubled year-on-year to 1.53 bln rupees in the March quarter
** Total revenue from operations rises 38% to 4.16 bln rupees; UTIA declares a special dividend of 23 rupees per share
** The mean recommendation of the 12 analysts tracking UTIA is equivalent to "hold"; median price target is 904.50 rupees - LSEG data
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of UTI Asset Management Company UTIA.NS rise as much as 6.07% to 1,005 rupees, highest since April 1, 2022; shares last up 4.2%
** The asset management company posts consolidated net profit that nearly doubled year-on-year to 1.53 bln rupees in the March quarter
** Total revenue from operations rises 38% to 4.16 bln rupees; UTIA declares a special dividend of 23 rupees per share
** The mean recommendation of the 12 analysts tracking UTIA is equivalent to "hold"; median price target is 904.50 rupees - LSEG data
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
UTI Asset Management Company March-Quarter Consol Net Profit Rises
April 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
FINAL DIVIDEND OF 24 RUPEES PER SHARE
SPECIAL DIVIDEND OF 23 RUPEES PER SHARE
MARCH-QUARTER CONSOL NET PROFIT 1.63 BILLION RUPEES VERSUS PROFIT 857.1 MILLION RUPEES
MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.16 BILLION RUPEES VERSUS 3.01 BILLION RUPEES
Source text for Eikon: ID:nBSE5BNl75
Further company coverage: UTIA.NS
(([email protected];))
April 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
FINAL DIVIDEND OF 24 RUPEES PER SHARE
SPECIAL DIVIDEND OF 23 RUPEES PER SHARE
MARCH-QUARTER CONSOL NET PROFIT 1.63 BILLION RUPEES VERSUS PROFIT 857.1 MILLION RUPEES
MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.16 BILLION RUPEES VERSUS 3.01 BILLION RUPEES
Source text for Eikon: ID:nBSE5BNl75
Further company coverage: UTIA.NS
(([email protected];))
India's HDFC AMC gains after JP Morgan upgrades stock, sets Street-high PT
** Shares of HDFC Asset Management Company HDFA.NS rise 2.25% to 3,726.70 rupees
** JP Morgan upgrades the stock to "overweight" from "neutral", raises PT to Street-high of 4,450 rupees
** The new PT implies an upside of 22% in nine months over its last close
** Brokerage values stock at 38 times 12-month forward earnings
** HDFA is trading at trailing twelve months (TTM) P/E of 43.81, compared to Aditya Birla Sun Life ADIE.NS, Nippon Life India Asset Management Company, and UTI Asset Management Company UTIA.NS, whose TTM P/E is in between 16-35 as per LSEG data
** JP Morgan expects HDFA to benefit from higher fund inflows
** Adds risk around regulations is largely mitigated, sees stable margins on the back of 25% rise in assets under management in FY24
** The avg recommendation of 19 analysts tracking HDFA is equivalent to "buy"; median TP, excluding JP Morgan's, is 3,440 rupees - LSEG data
** HDFA shares up 16.6% in 2024 so far, compared to 2% drop in financial services index .NIFTYFIN
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of HDFC Asset Management Company HDFA.NS rise 2.25% to 3,726.70 rupees
** JP Morgan upgrades the stock to "overweight" from "neutral", raises PT to Street-high of 4,450 rupees
** The new PT implies an upside of 22% in nine months over its last close
** Brokerage values stock at 38 times 12-month forward earnings
** HDFA is trading at trailing twelve months (TTM) P/E of 43.81, compared to Aditya Birla Sun Life ADIE.NS, Nippon Life India Asset Management Company, and UTI Asset Management Company UTIA.NS, whose TTM P/E is in between 16-35 as per LSEG data
** JP Morgan expects HDFA to benefit from higher fund inflows
** Adds risk around regulations is largely mitigated, sees stable margins on the back of 25% rise in assets under management in FY24
** The avg recommendation of 19 analysts tracking HDFA is equivalent to "buy"; median TP, excluding JP Morgan's, is 3,440 rupees - LSEG data
** HDFA shares up 16.6% in 2024 so far, compared to 2% drop in financial services index .NIFTYFIN
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
India's HDFC AMC tops performance among listed fund houses, Nuvama says
** Enhanced fund performance along with strong distribution network led to rising AUM in outperforming fund schemes of HDFC Asset Management Co HDFA.NS, says Nuvama Institutional Equities
** Nuvama says HDFC AMC's fund performance improved as rated AUM in outperforming schemes rose to 88% from 74.8% in May 2023
** Nippon Life India Asset Management's NIPF.NS large-cap and equity funds contributed to strong fund performance, taking NIPF's AUM in outperforming schemes to 70.9% from 45.5% in May
** Brokerage says AUM performance improved for Aditya Birla Sun Life AMC ADIE.NS while flagging a deterioriation in UTI Asset Management Co's UTIA.NS AUM
** Nuvama maintains "hold" on HDFA, NIPF, while retaining "buy" rating on ADIE, UTIA
** Nuvama adds unlisted ICICI Prudential AMC has highest share of rated AUM in outperforming schemes at 90.6%
** As of last close, HDFA up 17.9% YTD, NIPF risen 14.6%
** ADIE climbed 9.4% YTD, UTIA gained ~2%
(Reporting by Rama Venkat in Bengaluru)
** Enhanced fund performance along with strong distribution network led to rising AUM in outperforming fund schemes of HDFC Asset Management Co HDFA.NS, says Nuvama Institutional Equities
** Nuvama says HDFC AMC's fund performance improved as rated AUM in outperforming schemes rose to 88% from 74.8% in May 2023
** Nippon Life India Asset Management's NIPF.NS large-cap and equity funds contributed to strong fund performance, taking NIPF's AUM in outperforming schemes to 70.9% from 45.5% in May
** Brokerage says AUM performance improved for Aditya Birla Sun Life AMC ADIE.NS while flagging a deterioriation in UTI Asset Management Co's UTIA.NS AUM
** Nuvama maintains "hold" on HDFA, NIPF, while retaining "buy" rating on ADIE, UTIA
** Nuvama adds unlisted ICICI Prudential AMC has highest share of rated AUM in outperforming schemes at 90.6%
** As of last close, HDFA up 17.9% YTD, NIPF risen 14.6%
** ADIE climbed 9.4% YTD, UTIA gained ~2%
(Reporting by Rama Venkat in Bengaluru)
FUNDVIEW-Risk-reward favours India's three- to five-year corp bonds, UTI AMC's Mittal says
By Dharamraj Dhutia
MUMBAI, Feb 14 (Reuters) - India's three- to five-year corporate bonds are at attractive levels for investors to enter as the risk-reward is currently favourable in terms of capital gains as well as interest accrual benefits, the fixed income head of UTI Asset Management said.
"If you look at the three-year to five-year corporate bond yield curve, especially papers from state-run companies, from a risk-reward perspective, assuming 50-75 bps (basis points) of (domestic) rate cuts, it could lead to significant capital gains," Anurag Mittal said on Wednesday.
"The starting point is also very attractive from an accrual point of view so even if the rate cuts get delayed due to some factors, the investor is still benefiting from the accrual point, and could see handsome MTM (mark-to-market) gains when rate cycle changes," he said.
The fund house manages debt of around 278 billion rupees ($3.35 billion).
Yields on AAA-rated corporate bonds with three- to five-year maturities are in the 7.70%-7.90% range, according to LSEG.
The Indian corporate bond yield curve has stayed inverted since the past one year, which makes short-term debt more attractive. The latest example is a 10-year bond issue by Indian Railway Finance Corp that was sold at a 7.48% coupon, while the five-year bond yield was around 10 bps higher.
"We are recommending moderate duration with a one-year plus horizon," Mittal said.
He added that the yield curve inversion is far deeper in corporate bonds and even as compared to historical spreads, the two- to three-year corporate bonds are at quite an attractive spread over the central bank policy rate, which stands at 6.50%.
"Assuming liquidity improves and rate cuts happen, the shorter-end should perform and curve could steepen. We are seeing more inflows in moderate duration corporate bond funds and these should continue."
He expects the Reserve Bank of India to cut rates by only 50-75 bps in its easing cycle starting in the financial year beginning on April 1.
"Assuming stable inflation and favorable demand-supply dynamics, the benchmark bond yield should be around 6.80%-7.00% (in the medium term), assuming a terminal repo rate of 6.00% by end of 2024," Mittal added.
($1 = 83.0719 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
(([email protected];))
By Dharamraj Dhutia
MUMBAI, Feb 14 (Reuters) - India's three- to five-year corporate bonds are at attractive levels for investors to enter as the risk-reward is currently favourable in terms of capital gains as well as interest accrual benefits, the fixed income head of UTI Asset Management said.
"If you look at the three-year to five-year corporate bond yield curve, especially papers from state-run companies, from a risk-reward perspective, assuming 50-75 bps (basis points) of (domestic) rate cuts, it could lead to significant capital gains," Anurag Mittal said on Wednesday.
"The starting point is also very attractive from an accrual point of view so even if the rate cuts get delayed due to some factors, the investor is still benefiting from the accrual point, and could see handsome MTM (mark-to-market) gains when rate cycle changes," he said.
The fund house manages debt of around 278 billion rupees ($3.35 billion).
Yields on AAA-rated corporate bonds with three- to five-year maturities are in the 7.70%-7.90% range, according to LSEG.
The Indian corporate bond yield curve has stayed inverted since the past one year, which makes short-term debt more attractive. The latest example is a 10-year bond issue by Indian Railway Finance Corp that was sold at a 7.48% coupon, while the five-year bond yield was around 10 bps higher.
"We are recommending moderate duration with a one-year plus horizon," Mittal said.
He added that the yield curve inversion is far deeper in corporate bonds and even as compared to historical spreads, the two- to three-year corporate bonds are at quite an attractive spread over the central bank policy rate, which stands at 6.50%.
"Assuming liquidity improves and rate cuts happen, the shorter-end should perform and curve could steepen. We are seeing more inflows in moderate duration corporate bond funds and these should continue."
He expects the Reserve Bank of India to cut rates by only 50-75 bps in its easing cycle starting in the financial year beginning on April 1.
"Assuming stable inflation and favorable demand-supply dynamics, the benchmark bond yield should be around 6.80%-7.00% (in the medium term), assuming a terminal repo rate of 6.00% by end of 2024," Mittal added.
($1 = 83.0719 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
(([email protected];))
India's UTI AMC jumps after Q3 results
** Shares of UTI Asset Management Company Ltd UTIA.NS up 7.3% at 912.35 rupees
** Co's Q3 profit rises over 3x, led by higher other income
** Brokerages Yes Securities, Nuvama flag weak core revenue growth, but maintain "buy," citing stock's attractive valuation vs peers
** UTIA's 12-mth forward P/E of 18.3 lowest among other listed fund managers
** More than 3 mln shares traded in stock's busiest session since end-June, when regulator deferred investor fee changes
** Twelve analysts covering stock rate it "hold" on avg; median PT is 900 rupees - LSEG data
** Stock up 5.8% in January, rising for third straight month
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Shares of UTI Asset Management Company Ltd UTIA.NS up 7.3% at 912.35 rupees
** Co's Q3 profit rises over 3x, led by higher other income
** Brokerages Yes Securities, Nuvama flag weak core revenue growth, but maintain "buy," citing stock's attractive valuation vs peers
** UTIA's 12-mth forward P/E of 18.3 lowest among other listed fund managers
** More than 3 mln shares traded in stock's busiest session since end-June, when regulator deferred investor fee changes
** Twelve analysts covering stock rate it "hold" on avg; median PT is 900 rupees - LSEG data
** Stock up 5.8% in January, rising for third straight month
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
Strong equity inflows to boost Indian asset management firms - Nuvama
** With outlook for equity markets improving, regulatory concerns waning, asset management co stocks can do well in FY24, Nuvama says
** Benchmark Nifty 50 index .NSEI up 16% YTD, extending record high rally
** Nuvama picks HDFC Asset Management HDFA.NS and Nippon Life India Asset Management NIPF.NS as its top bets
** For FY24 to date, strong SIP inflows have driven active equity net inflows to 1.22 trillion Indian rupees ($14.63 billion)(+18.9 YoY), Nuvama says
** Brokerage adds equity assets under management are at all-time high of 25.8 trillion rupees
** HDFA last down 0.2% at 2,981 rupees and NIPF up 1.1% at 438.50 rupees
** HDFA up 36% YTD, NIPF up 76% so far this year
($1 = 83.3797 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** With outlook for equity markets improving, regulatory concerns waning, asset management co stocks can do well in FY24, Nuvama says
** Benchmark Nifty 50 index .NSEI up 16% YTD, extending record high rally
** Nuvama picks HDFC Asset Management HDFA.NS and Nippon Life India Asset Management NIPF.NS as its top bets
** For FY24 to date, strong SIP inflows have driven active equity net inflows to 1.22 trillion Indian rupees ($14.63 billion)(+18.9 YoY), Nuvama says
** Brokerage adds equity assets under management are at all-time high of 25.8 trillion rupees
** HDFA last down 0.2% at 2,981 rupees and NIPF up 1.1% at 438.50 rupees
** HDFA up 36% YTD, NIPF up 76% so far this year
($1 = 83.3797 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
China Huarong takes 5.8% stake in toll road operator
Corrects to show Huarong announced plan to buy stake in CITIC Ltd last week, not last month, in paragraph 5
Nov 20 (Reuters) - State-owned China Huarong Asset Management 2799.HK said it plans to buy a 5.8% stake in China Merchants Expressway Network & Technology 001965.SZ for 3.01 billion yuan ($417.4 million).
The deal is expected to bring stable earnings to Huarong and optimize its asset allocation, the distressed debt manager said in a filing to the Hong Kong stock exchange.
Huarong is buying the China Merchants Expressway stake from Zhongxin No.1, a fund linked to the state asset regulating authority in the southwestern Chinese municipality of Chongqing, according to the filing.
Huarong purchased the stake at 8.4 yuan per share, or 90.71% of the 9.26 yuan closing price on the last trading day before the deal was signed, according to the filing.
Huarong said last week it has agreed to buy a 5.01% stake in CITIC Ltd 0267.HK for HK$13.63 billion ($1.75 billion) from Chinese finance ministry-controlled CITIC Group, which also holds a 26.5% stake in Huarong.
Huarong also said it plans to change its name to China CITIC Financial Asset Management Co Ltd, in a bid to leverage the brand value of CITIC Group.
China Merchants Expressway, which runs toll road and transport technology businesses, reported a net profit of 5.25 billion yuan in 2022, compared with 5.54 billion yuan in 2021, Huarong's filing showed.
($1 = 7.2111 Chinese yuan renminbi)
($1 = 7.7949 Hong Kong dollars)
(Reporting by Roxanne Liu and Kane Wu; Editing by Susan Fenton)
(([email protected]; (8610)6627-1277; Reuters Messaging: [email protected]))
Corrects to show Huarong announced plan to buy stake in CITIC Ltd last week, not last month, in paragraph 5
Nov 20 (Reuters) - State-owned China Huarong Asset Management 2799.HK said it plans to buy a 5.8% stake in China Merchants Expressway Network & Technology 001965.SZ for 3.01 billion yuan ($417.4 million).
The deal is expected to bring stable earnings to Huarong and optimize its asset allocation, the distressed debt manager said in a filing to the Hong Kong stock exchange.
Huarong is buying the China Merchants Expressway stake from Zhongxin No.1, a fund linked to the state asset regulating authority in the southwestern Chinese municipality of Chongqing, according to the filing.
Huarong purchased the stake at 8.4 yuan per share, or 90.71% of the 9.26 yuan closing price on the last trading day before the deal was signed, according to the filing.
Huarong said last week it has agreed to buy a 5.01% stake in CITIC Ltd 0267.HK for HK$13.63 billion ($1.75 billion) from Chinese finance ministry-controlled CITIC Group, which also holds a 26.5% stake in Huarong.
Huarong also said it plans to change its name to China CITIC Financial Asset Management Co Ltd, in a bid to leverage the brand value of CITIC Group.
China Merchants Expressway, which runs toll road and transport technology businesses, reported a net profit of 5.25 billion yuan in 2022, compared with 5.54 billion yuan in 2021, Huarong's filing showed.
($1 = 7.2111 Chinese yuan renminbi)
($1 = 7.7949 Hong Kong dollars)
(Reporting by Roxanne Liu and Kane Wu; Editing by Susan Fenton)
(([email protected]; (8610)6627-1277; Reuters Messaging: [email protected]))
India's UTI Asset Management falls on slide in Q2 earnings
** Shares of UTI Asset Management UTIA.NS fall as much as 5.04% to 765.60 rupees, a six-week low
** Co's Sept-qtr net profit falls 8.5% Y/Y, while revenue declined 7.13%
** Slide in revenue and profit led by fall in equity yields, says Gaurav Jain, research analyst at Prabhudas Lilladher
** Adds mutual fund yields dipped ~2 basis points sequentially in September quarter and weighed on earnings
** Trading volume is 319,004 shares as of 12:11 a.m. IST, twice the 30-day avg - LSEG data
** Avg rating of 12 analysts close to equivalent of 'buy;' with median PT of 900 rupees - LSEG data
** UTIA shares down 8.7% in 2023 so far
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
** Shares of UTI Asset Management UTIA.NS fall as much as 5.04% to 765.60 rupees, a six-week low
** Co's Sept-qtr net profit falls 8.5% Y/Y, while revenue declined 7.13%
** Slide in revenue and profit led by fall in equity yields, says Gaurav Jain, research analyst at Prabhudas Lilladher
** Adds mutual fund yields dipped ~2 basis points sequentially in September quarter and weighed on earnings
** Trading volume is 319,004 shares as of 12:11 a.m. IST, twice the 30-day avg - LSEG data
** Avg rating of 12 analysts close to equivalent of 'buy;' with median PT of 900 rupees - LSEG data
** UTIA shares down 8.7% in 2023 so far
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
India's UTI Asset Management Company Sept-Quarter Consol Net Profit Falls
Oct 18 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
SEPT-QUARTER CONSOL NET PROFIT 1.83 BILLION RUPEES VERSUS 2 BILLION RUPEES YEAR AGO
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.04 BILLION RUPEES VERSUS 4.35 BILLION RUPEES YEAR AGO
Further company coverage: UTIA.NS
(([email protected];))
Oct 18 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
SEPT-QUARTER CONSOL NET PROFIT 1.83 BILLION RUPEES VERSUS 2 BILLION RUPEES YEAR AGO
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.04 BILLION RUPEES VERSUS 4.35 BILLION RUPEES YEAR AGO
Further company coverage: UTIA.NS
(([email protected];))
UTI Asset Management Appoints Anurag Mittal As Head Of Fixed Income
Sept 18 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
APPOINTS ANURAG MITTAL AS HEAD OF FIXED INCOME
Source text for Eikon: ID:nNSE18lRww
Further company coverage: UTIA.NS
(([email protected];))
Sept 18 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:
APPOINTS ANURAG MITTAL AS HEAD OF FIXED INCOME
Source text for Eikon: ID:nNSE18lRww
Further company coverage: UTIA.NS
(([email protected];))
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What does UTI Asset Management do?
UTI Asset Management Company Limited is a leading asset management company in India, serving a wide range of investors with diverse funds and services including mutual funds, PMS, retirement funds, offshore funds, and alternative investment funds.
Who are the competitors of UTI Asset Management?
UTI Asset Management major competitors are HDFC Asset Mngt. Co, Nippon Life India As, Edelweiss Financial, Prudent Corporate, Aditya Birla Sun AMC, Anand Rathi Wealth, Shriram AMC. Market Cap of UTI Asset Management is ₹14,725 Crs. While the median market cap of its peers are ₹21,373 Crs.
Is UTI Asset Management financially stable compared to its competitors?
UTI Asset Management seems to be less financially stable compared to its competitors. Altman Z score of UTI Asset Management is 9.08 and is ranked 7 out of its 8 competitors.
Does UTI Asset Management pay decent dividends?
The company seems to pay a good stable dividend. UTI Asset Management latest dividend payout ratio is 83.98% and 3yr average dividend payout ratio is 75.32%
How has UTI Asset Management allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is UTI Asset Management balance sheet?
Balance sheet of UTI Asset Management is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of UTI Asset Management improving?
No, profit is decreasing. The profit of UTI Asset Management is ₹662 Crs for TTM, ₹731 Crs for Mar 2025 and ₹766 Crs for Mar 2024.
Is the debt of UTI Asset Management increasing or decreasing?
Yes, The net debt of UTI Asset Management is increasing. Latest net debt of UTI Asset Management is -₹417.99 Crs as of Sep-25. This is greater than Mar-25 when it was -₹514.83 Crs.
Is UTI Asset Management stock expensive?
Yes, UTI Asset Management is expensive. Latest PE of UTI Asset Management is 25.04, while 3 year average PE is 19.81. Also latest EV/EBITDA of UTI Asset Management is 15.57 while 3yr average is 14.1.
Has the share price of UTI Asset Management grown faster than its competition?
UTI Asset Management has given lower returns compared to its competitors. UTI Asset Management has grown at ~18.79% over the last 3yrs while peers have grown at a median rate of 42.72%
Is the promoter bullish about UTI Asset Management?
There is Insufficient data to gauge this.
Are mutual funds buying/selling UTI Asset Management?
The mutual fund holding of UTI Asset Management is increasing. The current mutual fund holding in UTI Asset Management is 13.66% while previous quarter holding is 12.95%.
